Macy’s, Inc. Prices $400.0 Million of 10-Year Senior Notes

Macy’s, Inc. Prices $400.0 Million of 10-Year Senior Notes
Business Wire
CINCINNATI -- September 3, 2013
Macy’s, Inc. (NYSE: M)today announced the pricing of the public offering of
$400.0 million aggregate principal amount of senior notes due 2023 by its
wholly owned subsidiary, Macy’s Retail Holdings, Inc. The senior notes were
issued at a price of 99.314% of par and will bear interest at a rate of 4.375%
per annum. The senior notes will be fully and unconditionally guaranteed on a
senior unsecured basis by Macy’s, Inc. The transaction is expected to close on
or about September 6, 2013.
Macy’s Retail Holdings will use the net proceeds for general corporate
purposes, which may include working capital, capital expenditures, retirement
of indebtedness and repurchasing outstanding common stock of Macy’s, Inc.
Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Merrill
Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running
managers. Jones Day is acting as counsel to Macy’s, Inc. and Macy’s Retail
Holdings.
Copies of the prospectus and prospectus supplement relating to the senior
notes may be obtained for free by visiting EDGAR on the SEC website at
http://www.sec.gov. Alternatively, copies of the prospectus and prospectus
supplement may be obtained from any of the joint book-running managers by
contacting Credit Suisse Securities (USA) LLC at 1-800-221-1037, J.P. Morgan
Securities LLC collect at 1-212-834-4533 or Merrill Lynch, Pierce, Fenner &
Smith Incorporated at 1-800-294-1322.
Macy’s, Inc., with corporate offices in Cincinnati and New York, is one of the
nation’s premier retailers, with fiscal 2012 sales of $27.7 billion. The
company operates about 840 department stores in 45 states, the District of
Columbia, Guam and Puerto Rico under the names of Macy’s and Bloomingdale’s,
as well as the macys.com and bloomingdales.com websites. The company also
operates 13 Bloomingdale’s Outlet stores.
All statements in this press release that are not statements of historical
fact are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements are based upon the
current beliefs and expectations of Macy’s management and are subject to
significant risks and uncertainties. Actual results could differ materially
from those expressed in or implied by the forward-looking statements contained
in this release because of a variety of factors, including conditions to, or
changes in the timing of, proposed transactions, changes in the conditions of
the securities markets, particularly the markets for debt securities and other
factors identified in documents filed by Macy’s with the Securities and
Exchange Commission.
(NOTE: Additional information on Macy’s, Inc., including past news releases,
is available at www.macysinc.com/pressroom).
Contact:
Macy’s, Inc.
Media
Jim Sluzewski, 513-579-7764
or
Investor
Matt Stautberg, 513-579-7780